Littlejohn & Co. has acquired Interior Specialists, a provider of outsourced interior design and installation services for the homebuilding industry.
Interior Specialists (ISI) sells flooring, countertops, window coverings, cabinets and other products to homeowners and contracts with companies to install these products. The company primarily markets products to homeowners through design centers, which are either ISI-branded or operated on a fully-outsourced basis for regional, superregional and national homebuilders. ISI is headquartered in Carlsbad, CA and currently serves markets in Nevada, Arizona, California, Colorado, Idaho, Oregon, Washington, Virginia, and Washington, DC (www.interiorspecialists.com).
“ISI is an industry leader and the only large-scale provider of fully-outsourced design centers for homebuilders. With the added support and commitment of Littlejohn, ISI will aggressively leverage this key differentiator and significant value proposition for homebuilders to expand well beyond the company’s existing markets,” said Steven Raich, Managing Director of Littlejohn & Co. “We also look forward to partnering with the management team at ISI to identify strategic acquisitions that will further build the company’s geographic footprint and broaden its product offerings.”
In July 2014, ISI completed the acquisition of Las Vegas-based DelGrosso Floor Covering, which serves the residential and commercial building industry, offering and installing flooring, countertop and cabinetry products, in addition to operating a design center to support their residential home builder customers.
Littlejohn & Co. makes control and non-control investments in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth. Littlejohn invests in middle market companies with annual revenues typically between $100 million and $800 million, and generally invests $50 to $150 million of equity in its private equity investments. The firm invests across a range of industries and acquires manufacturers, distributors, and service providers. Littlejohn is currently investing from Littlejohn Fund V which has over $2 billion in capital commitments. The firm is based in Greenwich, CT (www.littlejohnllc.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-2-14